Forex Technical Analysis: Trend potential – Buy USDJPY around the previous day’s lowest low with your take profit at 109.291.

USDJPY – Down

Technical Observation

Since 24th June until now, the USDJPY has been making higher lows, The previous day’s candle is a perfect bullish pin bar candle, and while the price is above 108.442, I expect nothing but a possible momentum to the upper side, conservative traders should wait for a clear rise above 108.442, then a retracement back to the same level to pick a long term buy towards 109.291. You could have a pending buy limit orders around the previous day’s lowest low with stop loss slightly below and take profit at 109.291.

Trade Signal.

Buy USDJPY around the previous day’s lowest low with your take profit at 109.291.

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